European Commission - Daily News
Brussels, 23 May 2016
The European Commission has approved under the EU Merger Regulation the acquisition of Açoreana Seguros, of Portugal, by affiliates of Apollo Management, of the US.
Apollo Management is a private equity investor active globally in various industry sectors. Açoreana Seguros is an insurance company active in Portugal.
The Commission concluded that the proposed acquisition would not raise competition concerns, in particular because of the very limited overlaps between the companies' activities. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.8002.
(For more information: Ricardo Cardoso – Tel.: +32 229 80100; Giulia Komel – Tel.: +32 229 61175)
Source: Europa.eu (Copyright European Commission)